Sensex Today Ends 52 Points Higher

After opening the day on a positive note, Indian shares continued the momentum as the session progressed and ended higher.

After hitting all-time highs in intraday trade on Thursday, benchmark indices took a breather and settled flat.

At the closing bell, the BSE Sensex stood higher by 52 points.

Meanwhile, the NSE Nifty closed 33 points higher (up 0.2%).

UPL, ONGC, and M&M were among the top gainers today.

Asian Paints, ITC, and Coal India on the other hand, were among the top losers today.

The GIFT Nifty was trading at 20,195, up by 49 points, at the time of writing.

Broader markets are trading on a positive note. The BSE Mid Cap index is trading 1% higher and the BSE Small Cap index is trading higher by 1.2%.

Sectoral indices ended on a positive note, with stocks in the realty sector, oil and gas sector, and metal sector witnessing buying.

Shares of Maruti Suzuki and TCS hit their 52-week high today.

The rupee is trading at Rs 83.01 against the US dollar.

Asia-Pacific markets fell across the board as investors assess key economic data out of Japan and South Korea.

The Nikkei index ended 0.2% lower, Hang Seng index ended 0.2% higher, and the Shanghai Composite ended marginally higher.

In commodity markets, gold prices are trading 0.2% lower at Rs 58,466 per 10 grams today.

Meanwhile, silver prices are trading 1% lower at Rs 70,644 per 1 kg.

Why Venus Remedies Share Price Is Rising

In news from the pharma sector, Venus Remedies shares were trading 3% higher in the morning trade of 14 September after the pharma company, in a regulatory filing, announced having registered with the union government's Department of Scientific and Industrial Research (DSIR).

This will allow the company to avail exemption from paying customs duty.

This exemption will not only enable the company to reduce production costs but also empower it to invest more in research and development, enhancing our competitiveness and expanding our global reach.

Venus Remedies is engaged in the business of pharmaceutical production.

The company specializes in producing various formulations in the therapeutic segment, including antibiotics, oncology drugs, and critical care medicines.

So far in 2023, shares of the company have rallied 35%.


Venus Remedies is among the pharma companies in India that have solid growth in sales and profits and a high Return on Equity (ROE).

Cipla Stake Sale In Doubt

Moving on, the sale of a stake in Cipla is in jeopardy as potential buyers have balked at the Rs 1.09 tn (US$ 13.1 billion) valuation members of the founding family are targeting the Indian firm in a deal.

Negotiations between the family members and prospective buyers, including companies in the industry and private equity firms, are no longer moving forward, as the founders are demanding about Rs 1,350 per share.

The price represents a premium of about 10% over Wednesday's close.

The family members could sell some or all of their stakes in Cipla.

Deliberations are ongoing, and no final decision has been made on the deal.

The family members can still revise the asking price or decide not to proceed with the sale.

Cipla is a leading pharmaceutical player in India. The company has secured a spot within the top 5 Indian branded formulations market.

Around 40% of its revenues stem from the domestic market, while the rest is derived from exporting formulations and active pharmaceutical ingredients to countries including South Africa, emerging markets, and the United States.

It is also among the Top 5 Nifty 50 Stocks that have Beat Earnings Estimates by a Wide Margin in Q1.

Indusind Bank Launches Virtual Credit Card

Moving on to news from the banking sector, IndusInd Bank, on Thursday, announced the launch of a virtual commercial card, a credit card, that will redefine cross-border transactions for corporates and travel agents.

In partnership with Visa, the global leader in digital payments, and Juspay, a payments operating system, the virtual card has additional layers of security that give users complete control over their international expenses.

With the Virtual Commercial Cards, these commercial users can generate virtual cards or credentials in foreign-denominated currencies, safeguarding the parent card number and ensuring utmost security for transactions. Each virtual card can be fully customized with transaction-specific limits and the expiry dates can be defined to ensure a secure and seamless payment experience.

Seamless Authentication in Buyer-Supplier payments is yet another innovation of Juspay, aimed at creating easy-to-use experiences that modernize spending controls for employees and for finance and procurement teams across the industry.

What separates a good bank from a bad one? NPAs and capital efficiency. To know the best banking stock, check out Equitymaster's stock screener of Top Banking Companies in India.

More By This Author:

Sensex Today Trades Higher; Bombay Dyeing Zooms 20%
Sensex Today Ends 246 Points Higher
Sensex Today Trades Lower; Suzlon Energy Tumbles 4%

Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity ...

How did you like this article? Let us know so we can better customize your reading experience.